715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) Taxation 2023 - Quiz 2 Why consumption tax is called sales tax? (1 Point) Itis normally collected at sale Itis paid by seller Itis collected by seller Itis based on sale of goods and service Why is VAT a neutral tax? (1 Point) It does not affect consumers’ and producers’ decisions It differentiates various kinds of goods Ithelps producer determine optimal product mix It changes buying behavior of consumers 3 What is the problem of turnover tax? (1 Point) Double taxation Indirect tax Too difficult to collect hitps:/teams microsoft com)_#lschooltab:'371700255719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld.... 1/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) Generates limited amount of tax 4 How can VAT address the problem of Turnover tax? (1 Point) VAT is collected by seller VAT is computed on added value rather than the total value of goods and services VAT is applied on broader range of goods and services VAT is collected at various stages along the supply chain 5 Turnover tax is higher when the goods are changed hands more frequently. (1 Point) True False 6 VAT is a regressive tax because everyone pays the same amount of tax on the similar good. (1 Point) False Tue 7 Why is VAT still widely applicable despite its regressiveness? (1 Point) hitps:/teams microsoft com)_#lschooltab:'371700265719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld.... 2/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) VAT is regressive VAT results in no double taxation VAT is levied on consumption of almost goods and services VAT doesn't affect producing and buying decisions VAT is collected indirectly VAT is collected at multiple phases along the supply chain 8 Added value can be computed as (1 Point) Sum of all payments for taxed inputs Sum of all payments for inputs of production Sum of untaxed inputs Sum of all payments paid for inputs purchased from previous stages 9 What is the total VAT (10%)? (1 Point) Phase Phase Phase 1 Material 20 2 Bought from phasei 55 3 Bought fro Labour 20 Labour 15 Marketing Rent 10 Profit 10 Rent Profit 5 Selling price 80 Profit Selling price 35 Selling pric 5 25 55 hitps:/teams microsoft com)_#lschoolitab:'371700265719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld... 3/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) 10 What is the total Turnover tax (10%)? (1 Point) Phase Phase Phase 1 Material 20 2 Bought from phasel 55 3 Bought fro Labour 20 Labour 15 Marketing Rent 10 Profit 10 Rent Profit 5 Selling price 80 Profit Selling price Selling pric 55 25 5 8 " In Vietnam, consolidated documents (1 Point) Combine regulations of all taxes Combine all amendments made to a tax law up to a certain year Combine all amendments made to a tax law within a certain year Non of the above 1 Who are taxpayers of VAT in Vietnam? (1 Point) Retailer hitps:/teams microsoft com)_#lschooltab:'371700255719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZA/CLMBhultelxs [email protected]... 4/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) Producer Importer Wholesaler Trader Buyer Seller 13 Are agricultural products (unprocessed or preprocessed) taxable? (1 Point) Nontaxable at the first stage No Taxable at first stage Yes 4 PC Foods buys fresh chicken from DC Farm for producing salted chicken. (1 Point) Non-taxable Exempt transaction Taxable (no exemption) hitps:/teams microsoft com)_#lschoolitab:'371700265719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld... 5/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) 15 Ms. Hoa comes back from am oversea business trip with a package of 80 cigars and a new laptop of $1,000 (1 Point) Non-taxable Taxable (no exemption) Exempt transaction 16 Sanko LLC, an export processing company located in Bac Ninh EPZ, imports fabric from China to carry out a processing contract (1 Point) Non-taxable Taxable (no exemption) Exempt transaction 7 HT Plants buys flower seeds from individual farmers, does packaging and sells in supermarkets (1 Point) Exempt transaction Taxable (no exemption) Non-taxable 18 New Ideas receives money for carrying out a marketing campaign for Hanoi Consumers Company (1 Point) hitps:/teams microsoft com)_#lschooltab:'371700255719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld... 6/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) Taxable (no exemption) Non-taxable Exempt transaction 19 Hai Long JSC imports French wine to sell in its store chains (1 Point) Taxable (no exemption) Exempt transaction Non-taxable 20 Nam Anh Company grants a loan of VND10 bil to an affiliated company - Nam Em JSC. Nam Anh charges 9% interest per annum (1 Point) Non-taxable Exempt transaction Taxable (no exemption) 21 Vinh Long Television Station, a state agency, earns revenue from advertisement services during its hot Game Shows (1 Point) Exempt transaction Non-taxable Taxable (no exemption) hitps:/teams microsoft com)_#lschooltab:'371700265719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld.... 7/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) 22 TSQ Co. pays VND1bil in advance to buy electric devices from Light Co, Light Co. pays 5% interest per annum for this advancement (1 Point) Taxable (no exemption) Non-taxable Exempt transaction 23 Thinh Vuong convenience store, which earns roughly VND 9mil of revenue per month, sells various kinds of consumer goods to nearby residents (1 Point) Taxable (no exemption) Exempt transaction Non-taxable 24 Sunhome earns money from investing activities as follow: VND SOmil of interest on corporate bond, VND 70mil of cash dividend and VND 2bil from transfer of capital in an affiliated company (1 Point) Exempt transaction Taxable (no exemption) Non-taxable 25 Mr. Giang sells his own cars for VND700mil (1 Point) hps:teems microsof.com’_#lschooltab:3717002657/19WTEAPOHOCTUGKWOMI_WSXMOSDVNOZATCLMBhulels 1 Gtivead tacv2Mthveadls.. 815715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) Non-taxable Taxable (no exemption) Exempt transaction 26 HH JSC transfers non-current assets with a book value of VND10 billion to its 100% owned subsidiary, NH JSC, for producing taxable goods (1 Point) Non-taxable Taxable (no exemption) Exempt transaction ar GG LTD transfers non-current assets with a book value of VND12 billion to an affiliate, HN JSC, at a revalued amount of VND14 billion (1 Point) Exempt transaction Taxable (no exemption) Non-taxable 28 Canvey Co., a commission agent for Vietnam Airlines, sold VND2 bil of air fare during March and earned 5% commission (1 Point) Exempt transaction Non-taxable hitps:/teams microsoft com)_#lschooltab:'371700265719:WTEAPoHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs1@thread.tacv27threadld... 9/15718123, 9:36 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) Taxable (no exemption) 29 GL- a home appliance center, offers a 5% trade discount for customers buying TV on New year occasion. The list price of this TV is VND 10mil. 200 TVs are sold during this campaign. What is the VAT base price for this campaign? (1 Point) VND2,000 mit VND 1,800 mit VND1,900 mit VND100 mil 30 A cargo of consumption goods imported to Vietnam by WG has base price for import duty is VND 10 tril. The good is taxable at 5% import tax. However, after considering importer’s documents, customs office decides that this cargo is eligible for import duty exemption. What is VAT base price for this import? (1 Point) VND10 tril NDS tril VNDOS tril VND105 tril 31 A cargo of consumption goods imported to Vietnam by WG has base price for import duty is VND 10 tril, The good is taxable at 5% import tax. However, after considering importer’s documents, customs office decides hitps:/teams microsoft com)_#lschooltab:'371700255719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs [email protected]... 10/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) that this cargo is eligible for 30% import duty reduction. What is VAT base price for this import? (1 Point) VND 10 tril VND105 tril VND103 tril VND1035 tril 32 Red It Casino collects VND Sbil from customers during a month, of which prize given back to winning customers is VND 1.2bil in total. Casino is subject to 10% VAT. What is VAT base price for the casino this month? (1 Point) VND3.45 bil VND338 bil NDS bil VND1.2 bil 33 Fine Wine imports wine from Chile with price of $100/bottle, import tax of VND200,000, excise tax of VND 4mil. Exchange rate for tax purpose is \VND23,000/USD. What is VAT base price per bottle? (1 Point) VND6S mil VND2.3 mil VND63 mil VND2.5 mil hitps:/teams microsoft com)_#lschoolitab:'371700265719:[email protected]... 11/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) 34 ONE Co. uses 100 units of a product produced by itself (cost of VND100,000) as gift for customers during a sale promotion campaign, which is registered and complies with regulations. Normal selling price exclusive of VAT is VND 120,000/unit. Export price at export port is VND 125,000/unit. What is VAT base price for these 100 units? (1 Point) VNDO VND10 mil VND12 mil VND12.5 mil 35 TWO Co. uses 50 fans it produces as gifts to an elementary school. The same fans are sold by company at price of VND 1mil exclusive of VAT. What is VAT base price for these fans? (1 Point) VNDSS mil VNDSO mil VND 0 VND1 mil 36 Master Home sells 100 air-conditioners with list price of VND 7mil (this price is exclusive of 10%VAT, but inclusive of 10% excise duty and VND30,000 environmental protection tax). What is VAT base price for these air-conditioners? (1 Point) VND770 mil hitps:/teams microsoft com)_#lschoolitab:'371700265719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZA/CLMBhultelxs @thread.tacv27threadl... 12/15718123, 9:36 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) VND700 mil VND636 mil VND630 mil 37 Hanmilk manufactures yogurt. The VAT-exclusive price of a cup on the market is VND 5,000. Company B uses 300 bottles in a holiday trip of the company. This use is not serving company business. What is VAT base price for these yogurt bottles? (1 Point) VND15 mil VvNDO VNDO.75 mil VNDO.S mil 38 HASCE sells 1,000 coach tickets of VND 90,000, which is inclusive of 10% VAT. What is VAT base price for these tickets? (1 Point) VND99 mil VND80 mil VND81.82 mil VND90 mil 39 PaperPower manufactures paper. It uses 50 packs for use in the office. The sale price (VAT-exclusive) is VND 60,000/pack. What is VAT base price of hitps:/teams microsoft com)_#lschooltab:'371700255719:WTEAPHoCTUGKWOMI_uSXmDSDvNOZA/[email protected]... 13/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) these packs? (1 Point) VND3 mil VND6 mil NDS mil VNDO 40 Wheelly specialized in producing tools and equipment for car and car assembly. In a tax period, company use 50 tires for exhibition and 200 tires in car assembly. The market price for this type of tire is determined as VND 1.5 mil/tire. What is VAT base price of these tires? (1 Point) VNDO VND75 mil VND300 mil VND375 mil 41 Company AXN is permitted by a competent authority to hold a beauty contest. Apart from 1,000 tickets that are sold, company A also sends 150 invitations to some VIPs. The list of recipients is printed on these invitations. Normal selling price is VND 500,000/ticket. What is VAT base price of these invitation tickets? (1 Point) VND7S mil VNDOS mil VND7.5 mil hitps:/teams microsoft com)_#lschooltab:'371700265719:WTEAPoHoCTUGKWOMI_uSXmDSDvNOZAICLMBhultelxs [email protected]... 14/15715123, 9:35 AM Taxation 2023 - Quiz 2 (Taxation - Summer 2023) vNDO This content is created by the owner of the form, The data you submit will be sent to the form owner, Microsoft is not responsible for the privacy or security practices ofits customers, including those of this form owner. Never give ‘out your password. Powered by Microsoft Forms | Privacy and cookies | Terms of use hitps:/teams microsoft com)_#lschoolitab:'371700265719:[email protected]... 15/15,